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Islamic Development Bank starts marketing 5-year-dollar sukuk

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 Sukuk or Islamic bond a document issued by one of the banks showed The Jeddah based triple A rated institution gave initial price guidance in the high 40 basis points over mid swaps area the document showed IsDB has appointed Credit Agricole CIB Emirates NBD Capital Gulf International Bank HSBC JPMorgan Natixis and Standard Chartered as joint hellip
Islamic Development Bank starts marketing 5-year-dollar sukuk

naija news today

NNN: Sukuk

naija news today

or Islamic bond, a document issued by one of the banks showed.

naija news today

The Jeddah-based triple A-rated institution gave initial price guidance in the high 40 basis points over mid swaps area,

the document showed.

IsDB has appointed Credit Agricole CIB, Emirates NBD Capital, Gulf International Bank, HSBC, JPMorgan, Natixis

and Standard Chartered as joint lead managers and book runners.

Sukuk is the Arabic name for financial certificates, also commonly referred to as “sharia compliant’’ bonds.

Sukuk is defined by Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI)

as “securities of equal denomination representing individual ownership interests in a portfolio of eligible existing or future assets.

Islamic bonds, structured in such a way as to generate returns to investors without infringing Islamic law (that prohibits riba or interest).

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